PRESS DIGEST - Wall Street Journal - Oct 1

Reuters Staff

2 Min Read

Oct 1 (Reuters) - The following are the top stories in the Wall Street Journal on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

* Xstrata Plc’s board of directors recommended Monday that its shareholders vote in favor of Glencore International Plc’s revised merger proposal after making several revisions aimed at breaking a logjam over executive pay that has threatened to derail the historic tie-up.

* Energy producer Dynegy Inc is set to leave bankruptcy protection on Monday as a much leaner company, but perhaps one more vulnerable to a takeover.

* Nokia Oyj, looking to increase use of its mapping software, will unveil a new deal with Oracle Corp intended to give Oracle’s customers access to Nokia’s growing vault of map data and location services.

* Global trade is stalling, dimming prospects that exports will buoy the U.S. economy in the coming months.

* Accounting rule makers are on the verge of rolling back a widely assailed provision that counterintuitively adds to U.S. banks’ profits when their debt looks riskier to investors and penalizes them when it looks safer.

* LG Electronics Inc and Whirlpool Corp have agreed to settle patent infringement disputes related to refrigerators, concluding years of patent litigation between the two companies.

* A start-up called FreedomPop, backed by a founder of Skype, is set to launch a wireless data service that promises to save customers hundreds of dollars a year, at a time when cellphone bills are chewing up a growing share of the household budget.

* Private-equity firm First Reserve Corp has formed a new venture to build pipelines throughout the booming oil fields of North Dakota, an investment aimed at resolving transportation bottlenecks plaguing energy producers in the region.